H-P falls 12% to lowest level since 2002

BenjaminPimentel

SAN FRANCISCO (MarketWatch) - Shares of Hewlett-Packard
HPQ, +0.00%
tumbled 12% to close at $11.70, slumping to their lowest level since October 2002, after the company said it was recording an $8.8 billion asset impairment charge related to its 2011 acquisition of Autonomy Corp. H-P also disclosed that it had uncovered "serious accounting improprieties" at Autonomy, admitting that the $11 billion deal was overpriced. H-P also reported generally in-line fiscal fourth-quarter results on Tuesday.

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